ECA

[Scott Pearcy]

#9959

ECA is up a huge number (+374%) this morning as the market opens…..I am going to sell off my shares to preserve profits!!

[Ted & Elizabeth Thomas]

#9961

looks like eca has been changed to OVV whats going on ?

[Scott Pearcy]

#9962

Home

This is the new company and ticker symbol for Encana as they restructure the company and move to Denver from Calgary….

[Scott Pearcy]

#9970

My guess is that the reverse stock split (1 share of OVV for 5 shares of ECA) caused the indicated stock price to shoot up to the level that we are seeing…..

[Brandon Langwell]

#9974

Be careful, I don’t think it actually is up 374%! It split and is now reading OVV on my portfolio. Check your “gains” or “cost” section of whoever youre trading with. Mine just shows less shares but my same buy in price. Think first! And let our resident expert weigh in!

[Sean Hyman]

#9977

Also, a company’s own website will usually hold a lot of information in the Investor Relations section.

https://investor.ovintiv.com/2020-01-24-Encana-Completes-Reorganization-and-Establishes-Corporate-Domicile-in-the-U-S

[Rob Nelson]

#9978

It’s crazy that it can change ticker symbols and split without notification to share holders. I must have missed something. It’s actually down 4% on the day. Thanks for getting me so excited.

[Sean Hyman]

#9979

Yep, Brandon, exactly. stock prices/shares, etc. always look weird in the short-term when any reorgs, splits, changes, etc. take place.

[Scott Pearcy]

#9991

Yes….I figured that it was something along the lines of a reverse split…..I guess my 401k hasn’t updated with the new ticker and new number of shares…..Would have been terrific if it were true…

[Sean Hyman]

#10002

It’s not instant. Things are in systems that take a day or two or three. No biggie.

[R. Sigman]

#10046

Yes, I’d say you missed something. This has been in the financial news for a couple of months now. The move to the US, the reverse stock split and the name change were pretty well publicized for a couple of months. Don’t know how your brokerage company works, but I received notification from mine regarding this action.

[Sean Hyman]

#10047

Rob, it’s been known for a while. They just finally did it. But it’s been in the news and mentioned on their company website, etc. Keep in mind, it changes nothing. Changing symbols doesn’t change the fundamentals. Reverse splits are just engineering. That changes nothing, fundamentally.

Now…with that said, the U.S. is likely to be more favorable to them than Canada was under Trudeau. So, it could give them some tailwinds that help. However, oil’s next leg higher (whenever that comes), will do the most good for Encana.

Yep, Richard, you’re right.

[Ben Richards]

#33623

Sean, can you give an updated analysis on OVV?

[Sean Hyman]

#33625

Their cash is far lower than it should be and their debt is way too high. https://finance.yahoo.com/quote/OVV/key-statistics?p=OVV

So it is fundamentally weak and I wouldn’t suggest any averaging downs.

If it can fundamentally make the turn, it’s technicals look like they’re attempting a turnaround.

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[Ben Richards]

#33628

Thank you Sean!

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